Can't get a business account fullstop

Legacy_user

Hi everyone,

I'm sure someone can help here. I am running my own company contracting in a specialist role for one of the big boys.

Now I have my company set up. Only problem is I am unable to open a business account due to an IVA.

I tried RBS Basic business account and got refused.

The really stupid thing is, I have over £8000 waiting to be paid INTO my bank account, but no one will give me an account.

It is so crazy. I want no credit facilities just a "basic" business account.

Can anyone suggest a way out ? As my wife is company secretery, would she be able to open an account for the business ? (Mind you, her credit is just as appauling)

Cheers

13000

Pennywise

How many banks have you tried? Some are more lenient than others, especially if you're upfront and tell them before they find out about your poor credit history. If you've not already tried, I'd suggest Sandtander or Co-Operative - both are actively trying to increase the number of small business clients they have on their books and therefore may be more amenable to businesses that the big banks won't touch.

System

Hiya,

Thanks for that. So far I have tried Halifax and RBS.

Santander and Co-op are actually creditors of the IVA. Problem is, the more you try, the worse your credit looks apparently! I will try a few more

SOMERPORT

Go back to Halifax and ask for a Halifax Treasury account - from an old post on MSE - Halifax treasury account is exactly as you decribe. No credit checks needed but proof of ID and company formation. You get a passbook to pay in/take out funds
I had one of these for a few months then they upgraded to normal business account

Annisele

NatWest do a business account specifically for people with poor credit.

I can't recommend it - I don't bank with them, so I don't know what they're like - but they might be worth a shot.